NIFTY
has shown a rangebound consolidation in last 5 months of trading sessions. But this week, the candle moved from lower to upper range of bollinger band. In addition to it, many global factors are favouring the market sentiments which include: - The stability in crude and steel prices.
- A healthy correction after bull run of around 2 years.
- Increase in overall demand and consumption of energy resources.
- Inflation control.
- Gradual FII buying hinted in several sectors.
- The rise in bank rates.
-- The only considerable negative factors as of now is breaking rupee (dollar index) and global cues.
The idea shared is for educational purpose only.